Your betting budget

[Eureka_07]

Way back then when I was still playing gambling, I only spend the extra money I get from an airdrop, like spending $10-$20 whenever I feel like to play gambling just to have a pastime because I'm bored. I never go beyond that, because I know that no matter how big I spend in gambling, if I don't know how to play productively, I will always lose that money, and I don't want that to happen, that's why I rarely play gambling way back then.

It's good to know that you quit since you didn't know how to win productively increase the budget that you allocated for your gambling. It's fine to lose since it's just your past time, however be more disciplined to your money. In my case, there were times that I lost a lot, but I'm happy that I got those losses back.

[MrcMrc]

At every point in time, I always budget my money at the start of the month and that is 1% of my income to gamble with, I will never exceed this budget no matter how tempting gambling can be sometimes this has to help me manage my gambling spending.

[ReiMomo]

I kind o like feeling in control of my finances and that means controlling my spending and being very aware of what goes in and what goes out. I normally check my accounts every month and may make a few decisions on what to spend next month if things are not looking correct. One of the things I do is to set aside 10% of my income for things that I really do not need - expensive clothing, gadgets and electronics, books, games,... and part of that is gambling. For me, a reasonable gambling budget is 3 to 5% of my income, although I may allow more if I have some extraordinary income that month. How do you plan your gambling or fun budget?

Hei really nice to hear the way you plan your expenses. I have set of commitments, so I direct my income to them every month. Besides these, I would have 25% of my income in hand. I rarely used my money for gambling once or twice. Since I was not happy with the outcome, I did not try going for it then. It would have been lack of knowledge on where and on whom I bet. I always prefer for new gadgets, electronics and food than spending on gambling.

[3meek]

I usually bet no more than 10% of my budget... However, it doesn't always work out to stick to this strategy! At the last European Championships I took a few risks... Once I got very lucky, but twice I lost everything I won the first time!  So you should always make a habit of withdrawing your winnings!

[Saidasun]

$50 a month and I set deposit limits where possible. I have not found a good enough Bitcoin accepting website for my bets any though at least one with all the features of a fiat one. I find that Bitcoin ones lack the cash out option and the deposit limit which is something I need to prevent myself from going over it.

[dimonstration]

I usually bet no more than 10% of my budget... However, it doesn't always work out to stick to this strategy! At the last European Championships I took a few risks... Once I got very lucky, but twice I lost everything I won the first time!  So you should always make a habit of withdrawing your winnings!

Taking profit works also here in gambling not just in trading. Betting budget will only depend on how much we are able to enjoy gambling. Sometimes my budget only fits in just some hour or minutes. Sometimes I only deposit money when I have some match to look forward with or when have some extra money to enjoy with gambling.

[Alisha-k]

At every point in time, I always budget my money at the start of the month and that is 1% of my income to gamble with, I will never exceed this budget no matter how tempting gambling can be sometimes this has to help me manage my gambling spending.

In cases like this self dicipline is primarily the guide to risk management in gambling options. Once there is proper risk management and you adhere to your set budget then you would succeed in managing your funds but the moment greed sets in you loose control of your emotions and become too addicted to the point of loosing out your total budget for a month.

[Desmong]

I usually bet no more than 10% of my budget... However, it doesn't always work out to stick to this strategy! At the last European Championships I took a few risks... Once I got very lucky, but twice I lost everything I won the first time!  So you should always make a habit of withdrawing your winnings!

This is ridiculous and it happens to everyone either. Withdrawing funds after winning is very important and it helps to claim your initial deposit especially if things go bad later, losing the remaining funds. I have lost a lot of funds due to my greed of accumulating my earnings to a certain height before withdrawing it, affecting emotionally reducing the rate in which I gamble.
 Planning risk management before embarking on betting is very important but sometimes it is hard to adhere to it if discipline is not enforced.

[Viscore]

At every point in time, I always budget my money at the start of the month and that is 1% of my income to gamble with, I will never exceed this budget no matter how tempting gambling can be sometimes this has to help me manage my gambling spending.

In cases like this self dicipline is primarily the guide to risk management in gambling options. Once there is proper risk management and you adhere to your set budget then you would succeed in managing your funds but the moment greed sets in you loose control of your emotions and become too addicted to the point of loosing out your total budget for a month.

The reality is, it's hard to win in gambling but it's easy to lose money without discipline. People are greedy when they have high target profit but with a small bankroll, the moment they become unrealistic, they'll lose without noticing and they keep betting until everything they have will be wiped out. Maybe we are inspired by people who make a living in gambling, but we should understand that they have decent capital to achieve it.

[South Park]

I kind o like feeling in control of my finances and that means controlling my spending and being very aware of what goes in and what goes out. I normally check my accounts every month and may make a few decisions on what to spend next month if things are not looking correct. One of the things I do is to set aside 10% of my income for things that I really do not need - expensive clothing, gadgets and electronics, books, games,... and part of that is gambling. For me, a reasonable gambling budget is 3 to 5% of my income, although I may allow more if I have some extraordinary income that month. How do you plan your gambling or fun budget?

I pretty much do the same thing, I have a budget for what I call luxuries, stuff I do not really need but that I want, after all not everything on our lives can be about working all the time and getting no fun, and I use that money freely, this basically means that sometimes a great deal of that budget could go to gambling and sometimes none of it goes to it as I was interested in something else at the time and I was left without money for gambling for the rest of the month.

[paxmao]

Way back then when I was still playing gambling, I only spend the extra money I get from an airdrop, like spending $10-$20 whenever I feel like to play gambling just to have a pastime because I'm bored. I never go beyond that, because I know that no matter how big I spend in gambling, if I don't know how to play productively, I will always lose that money, and I don't want that to happen, that's why I rarely play gambling way back then.

I wish I have that kind of restraint back then, I spend a lot of money in gambling, even though I go home winning, I only use those wins to play again all of it until it's depleted. Good thing I was past that and I was able to make some changes in my life.

Yep, it is said that the worst thing that can actually happen to someone who gambles beyond reason or addictively is actually winning. The rush and dopamine they get from winning last longer that the pain of losing and that is the key of the addiction. Thus, a good winning strike will actually give them fuel to play strong until they loose everything back and a little bit more on top. Just make sure that at least you understand what is going inside you and if you can control, ask for someone to "supervise" you gambling.

[pinggoki]

For the most part, it is very good that you budget your expenses, be it intended to make way for gambling or not. Helps you ensure that you don't dry yourself up with funds especially nowadays when money is a bit harder to come by. Then again, you have to consider a lot of factors when budgeting, including the intention, how much your total funds are within that month, and of course the allocation intended for each expense. I myself, during my minimum-wage earning days dropped gambling off even though it could offer me money in return because the risk isn't just gonna cut it when you're being paid by the hour. But as my profits increased, I started to see opportunities to give way for gambling to play a part in my budget.

$50 a month and I set deposit limits where possible. I have not found a good enough Bitcoin accepting website for my bets any though at least one with all the features of a fiat one. I find that Bitcoin ones lack the cash out option and the deposit limit which is something I need to prevent myself from going over it.

I think 50 bucks is fairly reasonable for a month's worth of gambling. Especially if you're not earning that much in the first place but still want to make way for gambling as a way to let off steam and have fun of the little time we have. Although I would agree with you about bitcoin deposits in sites where they don't input parameters that will allow you to have more control over how much you spend in a gambling session. Wish a site in the future could do this.

[dunfida]

I kind o like feeling in control of my finances and that means controlling my spending and being very aware of what goes in and what goes out. I normally check my accounts every month and may make a few decisions on what to spend next month if things are not looking correct. One of the things I do is to set aside 10% of my income for things that I really do not need - expensive clothing, gadgets and electronics, books, games,... and part of that is gambling. For me, a reasonable gambling budget is 3 to 5% of my income, although I may allow more if I have some extraordinary income that month. How do you plan your gambling or fun budget?

Spending money on gambling is only on the amount i could put on and I cant risk even more which is beyond my budget in terms of daily expense and living.I dont like to have a hard life

on having debts just because you cant sustain yourself because you had spent that much into your vice or addiction? As long you do have the control then i dont see any problems on someone.

Gambling isnt bad if you dont let yourself get controlled of it but if you do let it control you then that would really be creating big problems in the future.

[finaleshot2016]

I kind o like feeling in control of my finances and that means controlling my spending and being very aware of what goes in and what goes out. I normally check my accounts every month and may make a few decisions on what to spend next month if things are not looking correct. One of the things I do is to set aside 10% of my income for things that I really do not need - expensive clothing, gadgets and electronics, books, games,... and part of that is gambling. For me, a reasonable gambling budget is 3 to 5% of my income, although I may allow more if I have some extraordinary income that month. How do you plan your gambling or fun budget?

That's a good practice, it will help you for not losing all of your money because of being greedy in gambling. Imagine if you're gerring hyped and lost all of your savings, it'll ruin your life. Let's always practice to have a small amount that is dedicated in gambling so that we can't use most of our money.

[harizen]

Just make sure that at least you understand what is going inside you and if you can control, ask for someone to "supervise" you gambling.

Honestly, no need for serious supervision because as you have mentioned, dopamine plays a role whenever we gambling. Naturally, it creates pleasure in the brain therefore it was only us that can't control it.

Actually, I don't mind if people still continue to play gambling despite lots of losing in their respective sessions. That's their money and will after all. As long as they are still responsible outside their gambling activity, that was good. But if not, that was a different story.

[STT]

My budget is just the spare part I'd spend on any game like an arcade machine.   Its nice to get something back but not what I would base my budgeting on, that money part is not exactly a bonus but I tend to be a worse case scenario guy who hedges bets which also denies me the big wins too like some get.   Depends how you want to play it but betting is a game to me, I like to put down something official on a game so it is in no doubt just who I thought would win where and when in especially the underdog bets

[traderethereum]

Just make sure that at least you understand what is going inside you and if you can control, ask for someone to "supervise" you gambling.

Honestly, no need for serious supervision because as you have mentioned, dopamine plays a role whenever we gambling. Naturally, it creates pleasure in the brain therefore it was only us that can't control it.

Actually, I don't mind if people still continue to play gambling despite lots of losing in their respective sessions. That's their money and will after all. As long as they are still responsible outside their gambling activity, that was good. But if not, that was a different story.

Someone that can supervise us is us because we take responsibility for our money and I am sure we do not want to see our money is gone because of losing control.
But that is what happens so far, and many people tend to use their money to gamble and add more money to try to win without considering that it is better to stop gamble for a while after we lose.
People can play gambling anytime they want but they should know how to manage their money but if they do not want to listen to our suggestion, that will be up to them.
We can only suggest to them without forcing they must stop as soon as possible because they will not want to stop if they do not see their limit.

[hahay]

Just make sure that at least you understand what is going inside you and if you can control, ask for someone to "supervise" you gambling.

Honestly, no need for serious supervision because as you have mentioned, dopamine plays a role whenever we gambling. Naturally, it creates pleasure in the brain therefore it was only us that can't control it.

Actually, I don't mind if people still continue to play gambling despite lots of losing in their respective sessions. That's their money and will after all. As long as they are still responsible outside their gambling activity, that was good. But if not, that was a different story.

Someone that can supervise us is us because we take responsibility for our money and I am sure we do not want to see our money is gone because of losing control.
But that is what happens so far, and many people tend to use their money to gamble and add more money to try to win without considering that it is better to stop gamble for a while after we lose.
People can play gambling anytime they want but they should know how to manage their money but if they do not want to listen to our suggestion, that will be up to them.
We can only suggest to them without forcing they must stop as soon as possible because they will not want to stop if they do not see their limit.

Well, I guess that could be a great way too. When we already have a budget for gambling but because there is a high awareness for supervision, then we can save the budget to anyone we trust, whether it's friends or family. With the budget that we entrust to the trusted person, at least there will be good control not to continue to increase the budget when it runs out and that method can also be good management for your finances.

[KTChampions]

Well, I guess that could be a great way too. When we already have a budget for gambling but because there is a high awareness for supervision, then we can save the budget to anyone we trust, whether it's friends or family. With the budget that we entrust to the trusted person, at least there will be good control not to continue to increase the budget when it runs out and that method can also be good management for your finances.

I didn’t understand the idea - are you suggesting that you keep your money with a trustee to exclude the possibility of losing it (or at least to stay within the budget)? This idea seems to me not working because in fact each person has a cash flow (and not a certain amount of money) and nothing can prevent him from taking money from this flow and spending it on gambling.

[Lorence.xD]

~

At least you've learned your lesson now? that is the most important part "Our Maturity" because more than everything it is our experience that teaches us to be more practical and never lose your attitude towards becoming addicted.
when i start gambling i also do the same mistakes but over the year i learn and comes to the conclusion that whatever i do it is always that gambling will win over us.

I agree, that point made me feel much more free since I wasn't chained by addiction anymore and I think that it's the greatest feeling although I still do some bets with friends here and there and some poker nights, the feeling is much better right now when you are in control.